Ann: Norseman Project Growth Plan Presentation, page-22

Hey Kip, appreciate you running the numbers.
I can only hope they get close to your figure, but... I think realistically, they will spent quite a bit on Scotia U/G and still have had some legacy issues/costs from the previous contractor (potentially a small increase in the contractor costs, as you get what you pay for), but even then, it should be decent result (I mean, PNRs share price has moved very strongly from the lows).

I mean.. the large capital raising is at best a mixed signal to the market that the quarter was not a stellar one.... though I suppose the raising price was... only at a small discount.... hmm...